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Blockchains and institutional competition in innovation systems

Blockchains and institutional competition in innovation systems The purpose of this paper is to introduce the notion of blockchain as an institutional technology, defend the idea of National Innovation Systems as institutional systems, and then make use of the theory of institutional competition to characterise challenges posed by innovation public policy by blockchain technology.Design/methodology/approachThe approach is to consider the nature of blockchain technology as an institutional technology, and to consider the nature of National Innovation Systems as institutional systems. The author then applies a theory of institutional competition developed elsewhere to appraise the interaction of the two.FindingsThe author expects for there to emerge sustained competition for National Innovation Systems from innovation systems implemented using blockchains. There will be pressure exerted by the latter upon the former to become more integrated, secure, usable and to greater support profit expectations for entrepreneurs.Originality/valueThe theory of institutional competition upon which this work is based makes use of cutting-edge behavioural and institutional economics. It has hitherto only been applied at a general level and has not been applied to a specific set of institutions such as National Innovation Systems. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Enterpreneurship and Public Policy Emerald Publishing

Blockchains and institutional competition in innovation systems

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References (29)

Publisher
Emerald Publishing
Copyright
© Emerald Publishing Limited
ISSN
2045-2101
DOI
10.1108/jepp-03-2019-0015
Publisher site
See Article on Publisher Site

Abstract

The purpose of this paper is to introduce the notion of blockchain as an institutional technology, defend the idea of National Innovation Systems as institutional systems, and then make use of the theory of institutional competition to characterise challenges posed by innovation public policy by blockchain technology.Design/methodology/approachThe approach is to consider the nature of blockchain technology as an institutional technology, and to consider the nature of National Innovation Systems as institutional systems. The author then applies a theory of institutional competition developed elsewhere to appraise the interaction of the two.FindingsThe author expects for there to emerge sustained competition for National Innovation Systems from innovation systems implemented using blockchains. There will be pressure exerted by the latter upon the former to become more integrated, secure, usable and to greater support profit expectations for entrepreneurs.Originality/valueThe theory of institutional competition upon which this work is based makes use of cutting-edge behavioural and institutional economics. It has hitherto only been applied at a general level and has not been applied to a specific set of institutions such as National Innovation Systems.

Journal

Journal of Enterpreneurship and Public Policy – Emerald Publishing

Published: Jun 19, 2020

Keywords: Evolution; Technology; Diffusion; Innovation systems; Blockchain; D02; D71; H11; P16; P48; P50

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